CAIRO: Indonesian economic growth reached 6.2 percent in 2012 and 5.7 percent in 2013 to be the most stable economy in the world over the last five years, said Indonesian Ambassador to Cairo Nour Sawandy on Monday.
Indonesia can reduce its debts which reached 83 percent of the Gross Domestic Product (GDP) in 2001 and declined to 26 percent of the GDP in 2013; this reduction is all-time low in Asia except for Singapore, the ambassador said in the media forum on Indonesia economics in Cairo.
“The economic and trade cooperation between Egypt and Indonesia notably reduced due to the bad rumors in the last phase, that leads to distort the positive facts of the strengthened economic and trade cooperation between Egypt and Indonesia,” said he added.
Jakarta has the biggest economy in Southeast Asia as the GDP value reached U.S. $1.37 trillion this year, Sawandy noted, and Indonesia is not affected by the global financial crises, comparing to other neighboring countries.
According to a reporter of The Economist, Indonesia’s economic growth rate raised to 5.7 percent of the GDP. Indonesian exports to Egypt recorded $993.4 million as Jakarta’s imports from Cairo reached $ 114 million, the ambassador added.
Egyptian products represent 0.09 percent in the Indonesian market, while the Indonesian products in Egypt’s market reached 1.43 percent; both countries have great chance to increase the mutual trade in the future, according to Sawandy.
He voiced his hope that media would focus on the economic and trade cooperation between both countries to boost it and create new paths of cooperation for investors from both sides.
Originally published in Youm7.